The state of Colorado is having an election on Nov. 1, and it is important that we all vote. For those of you who are new to Colorado politics, voters must approve every single tax increase proposed by the State of Colorado. The Blue Book is meant to educate voters about what they are voting for.
The Blue Book is also more boring than every textbook used at this university combined. So allow me to tell you why you should vote yes on Proposition 103.
Proposition 103 may be a tax increase, but much of that tax revenue will be spent on DU students. Proposition 103 raises the state income tax from 4.63 percent to 5 percent, and increases the state sales tax from 2.9 percent to 3.0 percent. All of the additional money from this increase will be spent on education.
At first, many of you may question why we would want to pay more in taxes. The answer is simple.
The money is going to a good cause, and some of it will be going to us. Plus, our taxes are already low.
In fact, most DU families will likely only see an increase in $315 annually.
The tax increase will collect $514.7 million for education in the next year, a 14.9 percent increase. This is huge because Colorado is required to have a balanced budget, and in recent years the state has had to cut education spending by 5.75 percent. This includes a cut in state financial aid going to DU students.
In the last year, $15.4 million less was spent on need-based financial aid. Voting on this tax increase will ensure that your friends receiving money from the state of Colorado can still attend DU.
Vote yes on Proposition 103 to ensure that quality students keep attending our prestigious institution.
Proposition 103 will also ensure economic growth among our state. Increased funding in education presumably grows the general business community because there are more skilled workers.
This means more job opportunities for us when we graduate. Opponents argue that increased taxes will hurt the economy and prevent businesses from coming here. However, Colorado has the third lowest taxes in the country, and such a small increase will not change that.
Two years ago, the state of Colorado implemented a major reform bill, the first of its kind in the nation that will change education drastically. Reform is being implemented; we need to stop cutting education.
Proposition 103 is beneficial to all DU students. We might have to spend a little bit more money on taxes, but overall, more money will be given in financial aid to our students and the overall economy will improve.
I strongly urge every student to vote yes on Proposition 103.
